Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has BioTelemetry (BEAT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
BioTelemetry is a member of the Medical sector. This group includes 850 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BEAT is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for BEAT's full-year earnings has moved 9.13% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, BEAT has moved about 3.25% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 10.03% on a year-to-date basis. This means that BioTelemetry is outperforming the sector as a whole this year.
To break things down more, BEAT belongs to the Medical Services industry, a group that includes 31 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 12.84% so far this year, so BEAT is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on BEAT as it attempts to continue its solid performance.
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